New Year Offer: Book a Chartered Hummingbird apartment today and get an exciting offer. Click here for more details.

New Year Offer: Book a Chartered Hummingbird apartment today and get an exciting offer. Click here for more details.

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Real estate is one of the most important investments in an Indian household. A long-term financial commitment, buying a home requires considerable research. Becoming a homeowner comes with a lot of responsibility, as well as a lot of benefits.

Unlike a car or other large investments that only depreciate over time, buying a house is one investment which will only appreciate. One of the safest investments to make, the value of a house will only increase, sometimes even during times of recession. While you’re paying the mortgage every month, the economic value of your home is just increasing.

Compared to renting, which offers little to no return on investment, buying a home is much more advantageous. Instead of paying an exorbitant amount of rent every month, the same amount of money can be used to pay for your own home. Each local market has its own unique characteristics, so make sure you consult the best real estate real developers in Bangalore, to find a house that best suits your needs.

Another benefit to owning a house is gaining equity. When it comes to real estate, investment and equity are directly related. Part of your mortgage payment goes towards the interest, while part of it goes towards the principal balance, which is the amount borrowed. Equity can be explained as the part of the principal balance that has already been paid off, easier described as the percentage or part of your home you already own.

Owning a home entitles you to certain tax benefits, as well. Taking a home loan on a ready to move-in property helps you avail tax benefits immediately. However, buying a plot and building a property will provide you with a deduction on the interest and principal payment, which is similar to the benefits received on an under-construction property.

Buying a home and making payments on time consistently will stabilise your credit history, and show that you are a good borrower. This will help whenever you need a loan in the future, or other major expenses, as the chances of you defaulting on a loan are low.

Tapping into the emotional side, the satisfaction and pleasure of owning a home are unparalleled. Whether you buy a 3BHK villa in Bangalore, or a 2BHK apartment in New Delhi, putting down roots and having a space to call your own is a special feeling. The warmth and comfort of your own home can never be found anywhere else. There is also a sense of security when you have your own house – no more rent negotiations and no more threats of vacancy notice by the landlord. There are no restrictions on pets or loud gatherings. You have the freedom to make the house look the way you want it to look – the colours on your walls, the floor and carpeting decisions, and more, without any prior approval from the landlord.

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